Highwoods Properties (NYSE:HIW) Reaches New 1-Year Low at $24.50

Highwoods Properties, Inc. (NYSE:HIW – Get Rating)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $24.50 and last traded at $24.72, with a volume of 184180 shares traded. The stock had previously closed at $25.21.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HIW shares. Wells Fargo & Company raised their target price on Highwoods Properties from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, November 22nd. Morgan Stanley downgraded Highwoods Properties from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $29.00 to $26.00 in a research note on Thursday. Truist Financial decreased their target price on Highwoods Properties from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, February 27th. Finally, Credit Suisse Group dropped their price target on shares of Highwoods Properties from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 24th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.29.

Highwoods Properties Trading Down 6.3 %

The company has a debt-to-equity ratio of 1.29, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 16.07 and a beta of 1.14. The business has a fifty day moving average price of $28.59 and a 200 day moving average price of $28.49.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 14th. Shareholders of record on Tuesday, February 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 8.47%. The ex-dividend date is Friday, February 17th. Highwoods Properties’s dividend payout ratio (DPR) is presently 136.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc grew its position in Highwoods Properties by 103.2% during the fourth quarter. IFP Advisors Inc now owns 878 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 446 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Highwoods Properties in the 4th quarter worth approximately $28,000. Ellevest Inc. increased its position in shares of Highwoods Properties by 98.2% during the fourth quarter. Ellevest Inc. now owns 1,094 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 542 shares during the period. CENTRAL TRUST Co increased its position in shares of Highwoods Properties by 76.6% during the third quarter. CENTRAL TRUST Co now owns 1,095 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 475 shares during the period. Finally, Heritage Wealth Advisors increased its position in shares of Highwoods Properties by 59.0% during the fourth quarter. Heritage Wealth Advisors now owns 1,617 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 600 shares during the period. Institutional investors own 94.57% of the company’s stock.

About Highwoods Properties

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Highwoods Properties, Inc operates as a real estate investment trust, which engages in the operation, acquisition and development of rental office properties. It operates through the following geographical segments: Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond, and Tampa. The company was founded by Ronald P.